PT Agung Podomoro Land Tbk. (APLN) is a leading integrated diversified real estate owner, developer and manager in the retail, commercial and residential real estate segments with diversified holdings. We have an integrated property development model, from land acquisition and/or sourcing, to design and development, to project management, sales, commercial leasing and marketing, to the operation and management of our superblock developments, shopping malls, offices, hotels, and residential apartments and houses. We are known as a pioneer of the superblock development. Our high quality landmark projects, to name a few are Podomoro City, Kuningan City, Green Bay Pluit, Podomoro City Deli Medan and Senayan City. We also develop several high quality township projects namely Podomoro Park Bandung and Podomoro Gof View Cimanggis.
APLN was established on July 30, 2004 under the name PT Tiara Metropolitan Jaya. In 2010, our shareholders completed a corporate restructuring, pursuant to which six developments and their holding companies were transferred to control. APLN, the flagship listed entity (IDX:APLN) of Agung Podomoro Group (APG), is one of the fastest growing and largest real estate developers in Indonesia with interests in superblocks, retail properties, office, apartments and residential, and hotels. Nowadays, APLN is broadening its developments into industrial estate and reclamations.
APG established its first development, a housing complex in Simprug area, South Jakarta, in 1969 and completed its construction in 1973. From 1973 to present, members of APG completed or begun construction of more than 70 property projects, with majority addressed to middle class segments of society, with projects ranging from low cost apartments to high end apartments, high end shopping malls, shop houses, hotels and office towers.
APLN combines a visionary approach to design with an emphasis on rapid execution and time to market. With our unique business model, we adopt fast churn concept with high capital turnover. Unlike other developers with massive landbank, we will only manage sizeable land bank to be directly developed mostly into mixed-use/superblock in the city. Drawing on the experience and resources of the Agung Podomoro Group, we have been responsible for bringing a number of landmark properties on the market such as our flagship Central Park development and the high profile Senayan City Mall. We also pioneered the superblock concept, bringing together residential, retail, leisure and office space within one integrated high rise development complex to create a pleasant and extremely convenient urban living space, with both sale and lease components.
Our “Back to the City” campaign has continued to provide consumers with an alternate way of living through our one-stop-living high quality Superblock developments, which offer the possibility for a balanced and pleasant urban lifestyle to thousands of consumers.
By working quickly and efficiently, our flexible and scalable model keeps use of capital and resources to a minimum at any given time. In addition, capitalizing on our network and good brand name, our strong and experienced marketing team is typically able to generate strong advance interest for cash generation through sales, deposits, and installments.
We also pay close attention to the mix of revenues streams coming from sales versus recurring revenues. We nurtured our existing commercial properties such as malls and hotels, within superblocks, a winning proposition in major urban cities due to their ability to offer a balanced lifestyle. We branched out into malls and hotels as part of our strategy to increase recurring revenues.
Going forward, APLN is strongly positioned to compete, supported by our rapid response, decision-making, strong execution capabilities and balance sheet. Geographically, we continue to expand into secondary cities in Java, such as Bogor, Bandung, Karawang, and also outside Java like Bali, Medan, Batam, Balikpapan and Makassar.
In addition to develop superblock and high rise building, we also develop some high quality township projects namely Podomoro Park Bandung and Podomoro Golf View Cimanggis. Overall, we will continue to maintain a flexible and opportunistic approach to investing wherever we see the right opportunities in the market, while striving to adhere to the principles of prudent capital management and fast build cycles, keeping our funds in play.